Warren Buffett’s public disdain for Bitcoin hasn’t stopped Capital Group, a mutual fund giant, from investing roughly $1 billion in Bitcoin-related stocks. Mark Casey, a devotee of Buffett, is leading the push into Bitcoin, believing it will surpass gold as a store of value with significant growth potential.

Casey, inspired by Bitcoin since 2013, gained exposure through MicroStrategy’s Bitcoin treasury strategy in 2020. Capital Group also acquired a 12.2% stake in MicroStrategy for $500 million in 2021 and invested in Metaplanet, a Japanese firm that pivoted to a Bitcoin treasury model, experiencing a 6000% surge in stock value.

Additionally, Capital Group holds shares in Bitcoin miner MARA Holdings, viewing Bitcoin as a commodity similar to physical commodities like gold and oil. Casey and his colleagues evaluate Bitcoin treasury firms based on this perspective, defying concerns about valuation.

Read more at Yahoo Finance: This Warren Buffett-Inspired Portfolio Manager Is Pouring Billions Into Bitcoin